Free trade or not

When I first started investing my trades were free now Free Trade are trying to force me to join the plus account that is a cost of around 120 a year to a small investor that is a big hit to my profit

the reason I say forced is because I have invested in the past and to purchase more of the same

I have now to buy the plus account how can this be should be called 120 a year trade not free ,

5 Likes

You aren’t forced.

also because Plus pays 3% on cash you can now get that £120 back if you hold £4K in cash in the account. Which gives you all the Plus stuff for free

4 Likes

The trades are still free

8 Likes

Don’t have that amount to put by just £50 to 100 to invest like I said don’t think it’s free no longer to small investors

3 Likes

Trading is free but I feel that I have been put in a corner if I want to invest in the trades I did from the start

3 Likes

I did say at the time I thought the existing stocks should have stayed in Free, and I still think that. But this argument has been done to death in multiple threads

2 Likes

Thanks for that Dave I did not know I have just joined the community and when I went to invest in my portfolio to find my favourite share is now on plus I did not like it I will read and look up the past comments regards lee

Trades are still free as mentioned.

I won’t argue that it’s a perfect system (it’s not), it is however still relatively cheap. The pros and cons have been discussed to death elsewhere in the forum which you might find useful to read over.

It’s difficult to say for your situation but honestly it depends what your goals are and what your doing as everyone is different. Freetrade offer more options than other platforms for cheaper (free) but it’s hard to generalise a comparison.

1 Like

Thank you I am only a small investor that liked and trusted a few companies I read into the companies and started to invest a little each month it was going we then free trade made them plus accounts only back to the drawing board

What companies were you looking at out of curiosity?

Some trades are free and some stocks are restricted to Freetrade plus paid members only.

So it’s a bit of a misleading quote that they’re free.

Restricting stocks only deter new and existing members to trade more with Freetrade as the competition can offer a more diverse selection of stocks to trade for free.

1 Like

At a cost. Nothing is free

1 Like

Every time a topic like this comes out I only have one question — what do you actually want to buy from that Plus universe? Like seriously. Share your wisdom. We want to know what’s good in there.

8 Likes

I think most complaining here just don’t like the fact they’ve had the option to invest in plus stocks taken away from them.
They think everything should be free in Freetrade.
Eventually all those who aren’t willing to pay for plus but have holdings in plus stocks will simmer down and the thousands of new customers won’t know any different… let’s hope it’s not too long :pray:

7 Likes

I don’t have a problem. From my small investor perspective Freetrade offers the opportunity to invest without charges in a range of products. This is like the supermarket versus the specialist delicatessen. If I want the mainstream products, in sealed packs, then the supermarket is fine and probably cheaper than the deli. If I want a specialist item say precisely 13 ounces of something, or 157 grammes of something else, the supermarket won’t accommodate me AT ANY PRICE. In the words of the cliche, you get what you pay for (or not). You want the things that aren’t free, then be prepared to pay. Whether Freetrade Plus is a more financially competitive offer than some other platforms is for you to decide based on your investment habits and practices. QED.

4 Likes

The trading at Freetrade is free. You might need the Plus account to trade in some shares, but the trades themselves are free.

For comparison. the trades at AJ Bell are £9.99 every single time you buy or sell any amount of shares. The trading is not free there.

I understand the friction Plus is causing and I think maybe the Freetrade team need some sort of graphic explaining this which we can all just copy and paste into these topics when the pop up.

Freetrade is still massively cheap if you compare it to the likes of AJ Bell and other established names where just 12 trades will set you back near enough £120.

15 Likes

I once used a free internet service called freeserve. They cornered the market. Then they turned into a company called orange and started charging for it. Such is the way of the world.

Freeserve was never free

Exactly

Seems that the title of this post is a little extreme and not the actual point of the complaint.

Not worth entertaining the argument about FreeTrade being ‘free’, but I totally understand the point about people being frustrated about stocks they’ve previously invested in now being paywalled. That is simply not good CX, particularly if the person currently holds shares in that stock but wants to buy more.

Perhaps a solution for FT could be to implement a way for those stocks to remain accessible for free to anybody who has previously purchased them prior to plus, and are currently still holding any amount of shares in them?